"I’m coming back to Toronto because my heart is telling me that it’s home — and because staying home, for me and my family, feels like the right thing to do," Lowry wrote. "My heart is telling me that this is the best city in the world, with the best basketball fans in the world. It’s telling me that the Raptors can be a championship-level team, sooner than later."

Toronto has now secured its core of All-Star players in Lowry, Ibaka and DeMar DeRozan, which will help it remain a likely top four team in the East. The Raptors went 51-31 last season and advanced to the Eastern Conference semifinals, where they were swept by the eventual conference champion Cavaliers.